L3Harris Technologies Inc (NYSE:LHX) Receives $354.75 Average Price Target from Analysts

Shares of L3Harris Technologies Inc (NYSE:LHX) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $354.75.

Several research analysts recently commented on the company. Sanford C. Bernstein reduced their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group cut their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd.

Insider Buying and Selling

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently bought and sold shares of the business. REAP Financial Group LLC boosted its stake in shares of L3Harris Technologies by 12.9% during the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after acquiring an additional 29 shares during the period. Burns J W & Co. Inc. NY raised its stake in L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after acquiring an additional 30 shares during the period. American National Bank & Trust raised its stake in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after purchasing an additional 30 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its holdings in L3Harris Technologies by 3.7% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.3%

Shares of LHX stock opened at $301.23 on Monday. The firm’s fifty day moving average price is $305.85 and its two-hundred day moving average price is $328.90. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies has a 1 year low of $250.02 and a 1 year high of $379.23. The firm has a market capitalization of $56.12 billion, a P/E ratio of 32.71, a PEG ratio of 1.53 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts predict that L3Harris Technologies will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.